The Economics of the Social Determinants of Health and Health Inequalities: a Resource Book
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9.1 Financial Cost Compared with Economic Cost 9.2 How
9.0 MEASUREMENT OF COSTS IN CONSERVATION 9.1 Financial Cost Compared with Economic Cost{l} Since financial analysis relates primarily to enterprises operating in the market place, the data of costs and retums are derived from the market prices ( current or expected) of the transactions as they are experienced. Thus the cost of land, capital, construction, etc. is the ~ recorded price of the accountant. By contrast, in economic analysis ( such as cost bene fit analysis) the costs and benefits of a project are analysed from the point of view of society and not from the point of view of a single agent's utility of the landowner or developer. They are termed economic. Some effects of the project, though conceming the single agent, do not affect society. Interest on borrowing, taxes, direct or indirect subsidies are transfers that do not deploy real resources and do not therefore constitute an economic cost. The costs and the retums are, in part at least, based on shadow prices, which reflect their "social value". Economic rate of retum could therefore differ from the financial costs which are based on the concept of "opportunity cost"; they are measured not in relation to the transaction itself but to the value of the resources which that financial cost could command, just as benefits are valued by the resource costs required to achieve them. This differentiation leads to the following significant rules in conside ring costs in cost benefit analysis, as for example: (a) Interest on money invested This is a transfer cost between borrower and lender so that the economyas a whole is no different as a result. -
Social Disadvantage, Healthcare Utilization, and Colorectal Cancer Screening: Leveraging Longitudinal Patient Address and Health Records Data
Published OnlineFirst August 22, 2018; DOI: 10.1158/1055-9965.EPI-18-0446 Research Article Cancer Epidemiology, Biomarkers Social Disadvantage, Healthcare Utilization, & Prevention and Colorectal Cancer Screening: Leveraging Longitudinal Patient Address and Health Records Data Amy E. Hughes1, Jasmin A. Tiro1,2, Bijal A. Balasubramanian2,3, Celette Sugg Skinner1,2, and Sandi L. Pruitt1,2 Abstract Background: Social disadvantage predicts colorectal cancer evaluated the association of these measures with screening outcomes across the cancer care continuum for many popula- using multilevel logistic regression models controlling for tions and places. For medically underserved populations, sociodemographics, comorbidity, and healthcare utilization. social disadvantage is likely intersectional—affecting indivi- Results: Among 32,965 patients, 45.1% received screening. duals at multiple levels and through membership in multiple In adjusted models, residential mobility, residence type, and disadvantaged groups. However, most measures of social neighborhood majority race were associated with colorectal disadvantage are cross-sectional and limited to race, ethnicity, cancer screening. Nearly all measures of patient-level social and income. Linkages between electronic health records disadvantage and healthcare utilization were significant. (EHR) and external datasets offer rich, multilevel measures Conclusions: Address-based linkage of EHRs to external that may be more informative. datasets may have the potential to expand meaningful mea- Methods: We identified urban safety-net patients eligible surement of multilevel social disadvantage. Researchers and due for colorectal cancer screening from the Parkland-UT should strive to use granular, specific data in investigations Southwestern PROSPR cohort. We assessed one-time screen- of social disadvantage. ing receipt (via colonoscopy or fecal immunochemical test) in Impact: Generating multilevel measures of social dis- the 18 months following cohort entry via the EHR. -
Nber Working Paper Series Rethinking Elderly Poverty
NBER WORKING PAPER SERIES RETHINKING ELDERLY POVERTY: TIME FOR A HEALTH INCLUSIVE POVERTY MEASURE? Sanders Korenman Dahlia Remler Working Paper 18900 http://www.nber.org/papers/w18900 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2013 An early version of this paper, titled, “Medicare, Medicaid, MOOP and the Supplemental Poverty Measure: Have We Lost Our Minds?” was presented to the Association for Public Policy Analysis and Management Fall 2012 Conference. This paper would not have been possible without the cooperation of several scholars who provided unpublished results and additional tabulations in response to our requests, as well as those who answered our questions about their research: Mark A. Levitan of the New York City Center for Economic Opportunity, Sheldon Danziger, Helen Levy, and Robert Schoeni of the University Michigan, and Bruce Meyer of the University of Chicago. We thank Adam Atherly for discussions of Medicare Advantage Plans and Sherry Glied for discussion of ACA exchanges. We also thank participants in seminars at the Baruch College School of Public Affairs and NYU Center for Advanced Social Science Research and the APPAM 2012 Conference for their comments, particularly Jonathan Fisher, David Johnson, Karl Kronebusch, Mark Levitan, and Cordelia Reimers. All errors and interpretations are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. -
Cost-Benefit Analysis and the Economics of Investment in Human Resources
DOCUMENT RESUME ED 04E d48 VT 012 352 AUTHOR Wood, W. D.; Campbell, H. F. TITLE Cost-Benefit Analysis and the Economics of Investment in Human Resources. An Annotated Bibliography. INSTITUTION Queen's Univ., Kingston (Ontario). Industrial Felaticns Centre. REPORT NO Eibliog-Ser-NO-E PU2 EATS 70 NOTE 217F, AVAILABLE FROM Industrial Relations Centre, Queen's University, Kingston, Ontario, Canada ($10.00) EDBS PRICE EDPS Price MF-$1.00 HC Not Available from EDRS. DESCRIPTORS *Annotated Bibliographies, *Cost Effectiveness, *Economic Research, *Human Resources, Investment, Literature Reviews, Resource Materials, Theories, Vocational Education ABSTRACT This annotated bibliography presents 389 citations of periodical articles, monographs, and books and represents a survey of the literature as related to the theory and application of cost-benefit analysis. Listings are arranged alphabetically in these eight sections: (1) Human Capital, (2) Theory and Application of Cost-Benefit Analysis, (3) Theoretical Problems in Measuring Benefits and Costs,(4) Investment Criteria and the Social Discount Rate, (5) Schooling,(6) Training, Retraining and Mobility, (7) Health, and (P) Poverty and Social Welfare. Individual entries include author, title, source information, "hea"ings" of the various sections of the document which provide a brief indication of content, and an annotation. This bibliography has been designed to serve as an analytical reference for both the academic scholar and the policy-maker in this area. (Author /JS) 00 oo °o COST-BENEFIT ANALYSIS AND THE ECONOMICS OF INVESTMENT IN HUMAN RESOURCES An Annotated Bibliography by W. D. WOOD H. F. CAMPBELL INDUSTRIAL RELATIONS CENTRE QUEEN'S UNIVERSITY Bibliography Series No. 5 Cost-Benefit Analysis and the Economics of investment in Human Resources U.S. -
Lost Wages: the COVID-19 Cost of School Closures
DISCUSSION PAPER SERIES IZA DP No. 13641 Lost Wages: The COVID-19 Cost of School Closures George Psacharopoulos Victoria Collis Harry Anthony Patrinos Emiliana Vegas AUGUST 2020 DISCUSSION PAPER SERIES IZA DP No. 13641 Lost Wages: The COVID-19 Cost of School Closures George Psacharopoulos Harry Anthony Patrinos Georgetown University The World Bank and IZA Victoria Collis Emiliana Vegas The EdTech Hub Center for Universal Education, Brookings AUGUST 2020 Any opinions expressed in this paper are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but IZA takes no institutional policy positions. The IZA research network is committed to the IZA Guiding Principles of Research Integrity. The IZA Institute of Labor Economics is an independent economic research institute that conducts research in labor economics and offers evidence-based policy advice on labor market issues. Supported by the Deutsche Post Foundation, IZA runs the world’s largest network of economists, whose research aims to provide answers to the global labor market challenges of our time. Our key objective is to build bridges between academic research, policymakers and society. IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. ISSN: 2365-9793 IZA – Institute of Labor Economics Schaumburg-Lippe-Straße 5–9 Phone: +49-228-3894-0 53113 Bonn, Germany Email: [email protected] www.iza.org IZA DP No. 13641 AUGUST 2020 ABSTRACT Lost Wages: The COVID-19 Cost of School Closures1 Social distancing requirements associated with COVID-19 have led to school closures. -
Journal of Mathematical Economics Implementation of Pareto Efficient Allocations
Journal of Mathematical Economics 45 (2009) 113–123 Contents lists available at ScienceDirect Journal of Mathematical Economics journal homepage: www.elsevier.com/locate/jmateco Implementation of Pareto efficient allocations Guoqiang Tian a,b,∗ a Department of Economics, Texas A&M University, College Station, TX 77843, USA b School of Economics and Institute for Advanced Research, Shanghai University of Finance and Economics, Shanghai 200433, China. article info abstract Article history: This paper considers Nash implementation and double implementation of Pareto effi- Received 10 October 2005 cient allocations for production economies. We allow production sets and preferences Received in revised form 17 July 2008 are unknown to the planner. We present a well-behaved mechanism that fully imple- Accepted 22 July 2008 ments Pareto efficient allocations in Nash equilibrium. The mechanism then is modified Available online 5 August 2008 to fully doubly implement Pareto efficient allocations in Nash and strong Nash equilibria. The mechanisms constructed in the paper have many nice properties such as feasibility JEL classification: C72 and continuity. In addition, they use finite-dimensional message spaces. Furthermore, the D61 mechanism works not only for three or more agents, but also for two-agent economies. D71 © 2008 Elsevier B.V. All rights reserved. D82 Keywords: Incentive mechanism design Implementation Pareto efficiency Price equilibrium with transfer 1. Introduction 1.1. Motivation This paper considers implementation of Pareto efficient allocations for production economies by presenting well-behaved and simple mechanisms that are continuous, feasible, and use finite-dimensional spaces. Pareto optimality is a highly desir- able property in designing incentive compatible mechanisms. The importance of this property is attributed to what may be regarded as minimal welfare property. -
Rethinking Elderly Poverty: Time for a Health Inclusive Poverty Measure
Rethinking Elderly Poverty: Time for a Health Inclusive Poverty Measure? * Sanders Korenman Dahlia Remler School of Public Affairs School of Public Affairs Baruch College, CUNY Baruch College, CUNY Paper to be presented to the 2012 APPAM Meetings First Draft: May 23, 2012 This Draft: October 19, 2012 * A previous version of this paper was titled, “Medicare, Medicaid, MOOP and the Supplemental Poverty Measure: Have We Lost Our Minds?” This paper would not have been possible without the cooperation of several scholars who provided unpublished results and additional tabulations in response to our requests, as well as those who answered our questions about their research. We thank Mark A. Levitan of the New York City Center for Economic Opportunity, Sheldon Danziger, Helen Levy, and Robert Schoeni of the University Michigan, and Bruce Meyer of the University of Chicago. We thank Adam Atherly for discussions of Medicare Advantage Plans and Sherry Glied for discussion of ACA exchanges. We also thank participants in the Baruch School of Public Affairs and NYU Research Seminars, particularly Jonathan Fisher, David Johnson, Karl Kronebusch, and Cordelia Reimers. All errors and interpretations are our own and may not reflect the views or interpretations of these generous scholars. 1 Abstract Census’s new Supplemental Poverty Measure (SPM) nearly doubles the elderly poverty rate compared to the Official Poverty Measure (OPM), fueling calls to protect or expand assistance for the elderly. Can the elderly, despite massive Medicare, Medicaid and Social Security transfers, remain among the most impoverished Americans? The much higher SPM elderly poverty rate is due to the subtraction of medical out-of-pocket (MOOP) expenditures from income. -
The Economic Cost of War May 2008
The Economic Cost of War May 2008 What is the true cost of war? As economists and government officials offer cost estimates of the current occupation of Iraq, others have begun to question the opportunity cost of forgone investment and develop - ment in American infrastructure and education. See “Debate rages about impact of Iraq war on U.S. econ omy” by Sue Kirchhoff in the April 10, 2008, USA Today . “I have a yardstick by which I test every major problem—and that yardstick is: Is it good for America?” —Dwight D. Eisenhower, 34th President of the United States The Congressional Budget Office (CBO) estimates that the cost of U.S. operations in Iraq and Afghanistan, and of other activities related to the war on terrorism, has totaled $651 billion from 2001 through the end of 2007. This estimate includes costs incurred through direct military operations and related expenses such as medical costs, disability compensation, and survivor benefits. However, the estimate does not include appropriations requested for 2008 and beyond. The CBO projects that the war on terrorism could require additional outlays of $570 billion to $1.2 trillion from 2008 to 2017. One difficulty with such projections is that a lot can change over the next 10 years, such as the course of the war. Another difficulty is that this estimate fails to fully consider the opportunity cost of funding the war on terrorism, which is the cost incurred by not investing that same money in other projects. A number of economists have attempted to quantify these explicit economic costs, such as forgone investments in American infrastructure, government research, or government assistance programs. -
Arxiv:0803.2996V1 [Q-Fin.GN] 20 Mar 2008 JEL Classification: A10, A12, B0, B40, B50, C69, C9, D5, D1, G1, G10-G14
The virtues and vices of equilibrium and the future of financial economics J. Doyne Farmer∗ and John Geanakoplosy December 2, 2008 Abstract The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human rea- soning into account. This approach has been the cornerstone of modern economic theory. We explain why this is so, extolling the virtues of equilibrium theory; then we present a critique and describe why this approach is inherently limited, and why economics needs to move in new directions if it is to continue to make progress. We stress that this shouldn't be a question of dogma, but should be resolved empir- ically. There are situations where equilibrium models provide useful predictions and there are situations where they can never provide use- ful predictions. There are also many situations where the jury is still out, i.e., where so far they fail to provide a good description of the world, but where proper extensions might change this. Our goal is to convince the skeptics that equilibrium models can be useful, but also to make traditional economists more aware of the limitations of equilib- rium models. We sketch some alternative approaches and discuss why they should play an important role in future research in economics. Key words: equilibrium, rational expectations, efficiency, arbitrage, bounded rationality, power laws, disequilibrium, zero intelligence, mar- ket ecology, agent based modeling arXiv:0803.2996v1 [q-fin.GN] 20 Mar 2008 JEL Classification: A10, A12, B0, B40, B50, C69, C9, D5, D1, G1, G10-G14. ∗Santa Fe Institute, 1399 Hyde Park Rd., Santa Fe NM 87501 and LUISS Guido Carli, Viale Pola 12, 00198, Roma, Italy yJames Tobin Professor of Economics, Yale University, New Haven CT, and Santa Fe Institute 1 Contents 1 Introduction 4 2 What is an equilibrium theory? 5 2.1 Existence of equilibrium and fixed points . -
Social Economics: Organizations John B
Marquette University e-Publications@Marquette Economics Faculty Research and Publications Economics, Department of 1-1-1998 Social Economics: Organizations John B. Davis Marquette University, [email protected] Published version. "Social Economics: Organizations," in Encyclopedia of Political Economy. Eds. Phillip Anthony O'Hara. London: Taylor & Francis (Routledge), 1998: 1038-1040. Publisher Link. © 1998 Taylor & Francis (Routledge). Used with permission. social economics: organizations Selected references ment, social security, credit policy, the Federal Reserve and postwar reconstruction). ThoUgh Apter, David E. (1993) "Social Democracy," in early contributors were influenced by neoclas_ William Outhwaite and Tom Bottomore sical economists, solidarism, a theoretical (eds), Blackwell Dictionary of Twentieth orientation critical of neoclassical economics Century Social Thought, Oxford: Blackwell. with origins in the work of Heinrich Pesch and Bernstein, Eduard (1898) Evolutionary Social Goetz Briefs in interwar Germany, became ism, New York: Schocken, 1961. increasing influential. Members of the ASE Milner, Henry (1990) Sweden: Social Democ tended to reject liberalism and laissez-faire, and racy in Practice, Oxford: Oxford University argued for a social market economy and an Press. economic process embedded in the larger living Nettl, IP. (1973) "Social Democracy in Ger context of society. many and Revisionism," in Dictionary of the In 1970 the members of the Association History of Ideas, vo l. 4, Studies of Selected elected to give up their strict identification with Pivotal Ideas, ed. Philip P. Wiener, New York: Catholic social thought, and gave the organiza Charles Scribner's Sons. tion its current name to refle~t the increasingly Pierson, Christopher (1991) Beyond the Welfare pluralistic character of its membership. -
An Equilibrium-Conserving Taxation Scheme for Income from Capital
Eur. Phys. J. B (2018) 91: 38 https://doi.org/10.1140/epjb/e2018-80497-x THE EUROPEAN PHYSICAL JOURNAL B Regular Article An equilibrium-conserving taxation scheme for income from capital Jacques Temperea Theory of Quantum and Complex Systems, Universiteit Antwerpen, Universiteitsplein 1, 2610 Antwerpen, Belgium Received 28 August 2017 / Received in final form 23 November 2017 Published online 14 February 2018 c The Author(s) 2018. This article is published with open access at Springerlink.com Abstract. Under conditions of market equilibrium, the distribution of capital income follows a Pareto power law, with an exponent that characterizes the given equilibrium. Here, a simple taxation scheme is proposed such that the post-tax capital income distribution remains an equilibrium distribution, albeit with a different exponent. This taxation scheme is shown to be progressive, and its parameters can be simply derived from (i) the total amount of tax that will be levied, (ii) the threshold selected above which capital income will be taxed and (iii) the total amount of capital income. The latter can be obtained either by using Piketty's estimates of the capital/labor income ratio or by fitting the initial Pareto exponent. Both ways moreover provide a check on the amount of declared income from capital. 1 Introduction distribution of money over the agents involved in additive transactions follows a Boltzmann{Gibbs exponential dis- The distribution of income has been studied for a long tribution. Note that this is a strongly simplified model of time in the economic literature, and has more recently economic activity: it is clear that in reality global money become a topic of investigation for statistical physicists conservation is violated. -
Englisha New Health Classification Framework
A New Health Classification Framework+ Final Report Prepared by Mthuli Ncube1, Mara Airoldi, Stefan Thewissen, Judith Kabajulizi, Max Roser, & Olivier Sterck University of Oxford 7 December 2015 Equitable Access Initiative(EAI) in Health 1 Corresponding Author: Prof Mthuli Ncube, Professor of Public Policy, Blavatnik School of Government and Leader of RethinkHIV & Fellow, St Antony’s College, University of Oxford, Oxford, OX1 4JJ, UK. Email: [email protected] +The paper was produced for the Equitable Access Initiative (EAI) in health. We thank Dr Kate Ryan for the data analysis, especially on the World Health Index. The paper has incorporated comments from the Workshop with the EAI Technical Working Group, 28 July 2015, Geneva, and subsequent comments from the Virtual discussions of 21 September 2015,consultations of 24-28 September 2015 in New York, and EAI Technical Working Group, 28 October, Geneva. We also thank staff at The Global Fund for their constructive comments and support throughout the project. 1 Table of Contents 1. Executive Summary 3 2. Chapter 1: Introduction 5 3. Chapter 2: Methodology-theoretical framework 7 4. Chapter 3: DALY as a measure of health inequality across countries 16 5. Chapter 4: Results for Overall inequality and Poverty adjustments 19 6. Chapter 5: Results for Health Inequality and Health Poverty measures 30 7. Chapter 6: The World Health Index 36 8. Chapter 7: Country experiences at Subnational Level: India & Nigeria 46 9. Chapter 8: Some Country experiences regarding funding: Uganda and Swaziland 51 10. Chapter 9: Conclusions 55 11. Chapter 11: Recommendations 56 12. References 57 13.